MARKET SEGMENT Definition

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MARKET SEGMENT is a group of consumers, within a broader market, that has similar characteristics and needs.

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FRINGE BENEFIT an incidental benefit awarded for certain types of employment (especially if it is regarded as a right) (Example: employer supplied health insurance or two weeks paid vacation per year).

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) is a corporation owned by the U.S. Government within the Department of Housing and Urban Develop­ment with the authority to fully guarantee the timely payment of principal and interest on securities collateral­ized by FHA-insured or VA-guaranteed mortgages. GNMA is commonly called "Ginnie Mae:' GNMA I securities are single-issuer pools. GNMA II securities are collateralized by multiple-issuer pools or custom pools (one issuer but different interest rates that may vary within one percentage point). Multiple-issuer pools are known as "Jumbos:' Standard GNMAs have a stated maturity of 30 years.

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